Truist Financial Reiterates “Hold” Rating for Berry Global Group (NYSE:BERY)

Berry Global Group (NYSE:BERY)‘s stock had its “hold” rating reissued by equities researchers at Truist Financial in a note issued to investors on Wednesday,Benzinga reports. They currently have a $72.00 price target on the industrial products company’s stock, down from their previous price target of $74.00. Truist Financial’s target price suggests a potential upside of 1.51% from the company’s current price.

BERY has been the topic of several other reports. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Morgan Stanley started coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.22.

Berry Global Group Stock Up 2.8 %

Shares of BERY opened at $70.93 on Wednesday. The firm has a market cap of $8.13 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.09 and a beta of 1.14. Berry Global Group has a 1 year low of $54.06 and a 1 year high of $72.50. The stock has a 50 day simple moving average of $67.99 and a two-hundred day simple moving average of $64.27. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08.

Insider Activity

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the sale, the director now directly owns 30,228 shares of the company’s stock, valued at $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Berry Global Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its stake in Berry Global Group by 33.8% in the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock worth $2,271,000 after purchasing an additional 9,483 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Berry Global Group during the 1st quarter worth $691,000. BOKF NA increased its stake in shares of Berry Global Group by 26.3% during the first quarter. BOKF NA now owns 79,330 shares of the industrial products company’s stock valued at $4,809,000 after buying an additional 16,497 shares during the period. Vanguard Group Inc. raised its holdings in shares of Berry Global Group by 10.2% in the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after acquiring an additional 1,200,021 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Berry Global Group by 4.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock worth $56,786,000 after acquiring an additional 37,242 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.